Sen. Bernie Sanders (I-Vt.) and Senate Environment and Public Works Chairwoman Barbara Boxer (D-Calif.) unveiled a climate bill Thursday that would put a price on carbon and rebate 60 percent of the revenue to U.S. citizens.

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“We’ve been beat down, we got up, we fought back and we’re re-energized,” Boxer said during a briefing on the bill. Boxer and Sanders were joined by several progressive and environmental groups that endorsed the measure, including officials from the Sierra Club, the climate activist organization 350.org and the Center for American Progress Action Fund.

In addition to the climate provisions, the bill would allow the Environmental Protection Agency to regulate fracking under the Safe Drinking Water Act. A companion bill from Sanders would eliminate tax breaks for fossil fuel companies.

The Sanders-Boxer legislation faces big hurdles to passage in the Senate, where two major climate bills have collapsed in the past decade, and would almost certainly be dead on arrival in the House.

Republicans underscored their long-standing opposition to climate change legislation this week, dismissing Obama’s State of the Union call for a “bipartisan, market-based” climate bill.

But Boxer said she nonetheless hopes to hold a committee vote in early spring and then bring the bill to the floor in the summer.

Asked whether she has the blessing of Majority Leader Harry Reid, Boxer demurred.

“Once we get the co-sponsors and we have the hearing and we get it marked up, that is the time to talk about when it goes to the floor,” she said.

Sanders added: “I have over the years talked to Sen. Reid about this issue. He is sympathetic and we will see where he comes down in the months to come.”

A Senate vote on the bill could put some Democrats facing tough reelection fights in 2014 in a bind.

The bill comes just days after Obama warned in his Tuesday address that if Congress fails to act on climate change — which appears certain — he will move forward with an administration-wide approach to slashing greenhouse gas emissions. While he didn’t offer details of what that approach would entail, it’s widely expected that EPA will move forward on rules limiting greenhouse gas emissions from power plants.

Boxer acknowledged that regulations are coming, regardless of her attempt to pass legislation.

“We passed the Clean Air Act,” she said. “It is the law of the land. Laws are to be obeyed and the executive has no option but to implement the law.”